The
global luggage market can be segmented into travel bags, business bags and
casual bags. Global travel bags market comprises products that are used for
travelling, such as carry-ons (hand bags or cabin bags) and suitcases.

Global
travel
bags market can be broadly segmented into hard sides, soft sides, and
hybrid according to the material used for their manufacturing. Global travel
bags market accounts for nearly 40% to 50% share of the global luggage market.
It is expected to increase at a steady compound annual growth rate during the
forecast period 2016-2026.

GlobalTravel
Bags Market: Drivers & Restraints

On
a macroeconomic level, the key factors driving the growth of the global travel
bags market include resurgence in the global economy, increasing urbanisation,
and increase in disposable income among the middle class in emerging economies.
The global tourism industry took a hit during the financial crisis of 2007-08,
and this had far-reaching effects on the global travel bags market. However, as
the global economy witnesses a resurgence, and tourism activities gain
momentum, demand for travel bags is steadily increasing.

The
middle class in emerging economies has ramped up demand across a wide range of
end-use industries, most notably consumer electronics and automobiles. The
impact of this burgeoning consumer segment is also visible in the travel bags
market, as rapid globalisation has led to an increase in the number of people
traveling for business and leisure activities.

The
global travel bags market is highly fragmented, and although established
players have a strong positioning in developed countries, a number of regional
players account for a sizeable share of the market in developing countries. A
number of local players also use the logos of leading brands on their products,
creating fake products, which are then sold at a fraction of the cost of the
original. This significantly eats into the revenue share of the leading players
in the market.

Travel
Bags Market: Segmentation

On
the basis of types, global travel bags market is segmented into:

·Duffle bags

·Trolley bags and suitcases

·Backpacks

On
the basis of the type of materials used, global travel bags market is segmented
into:

·Hard side

·Soft side

·Hybrid

On
the basis of price, global travel bags market can be segmented into:

·Low price (generally includes highly fragmented local brands)

·Medium price

·Premium

On
the basis of distribution channel, global travel bags market can be segmented
into:

·Traditional stores

·Modern stores

oSupermarket

oHypermarket

oOnline

oFactory outlets

oDiscounted stores

oSpecialty stores

oOthers

Travel
Bags Market: Region-wise Outlook

In
developing market regions, especially Asia-Pacific and Latin America, global
travel bags market is anticipated to have high growth during the forecast
period due to increase in disposable income, urbanization, and global travel,
specially the rail and air travel which is estimated to grow with a single
digit CAGR during the forecast period. North America and Europe are expected to
have robust growth during the forecast period with growing per capita
expenditure on travel & tourism and increasing purchasing power of the
consumers.